Belgium: Aircraft Market 2024

Aircraft Market Size in Belgium

The Belgian aircraft market surged to $X in 2022, increasing by 71% against the previous year. Over the period under review, consumption showed a modest expansion. Over the period under review, the market reached the peak level in 2022 and is expected to retain growth in the near future.

Aircraft Production in Belgium

In value terms, aircraft production expanded significantly to $X in 2022 estimated in export price. Overall, production recorded a significant expansion. The growth pace was the most rapid in 2014 when the production volume increased by 101%. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Aircraft Exports

Exports from Belgium

In 2022, the amount of airplanes and other aircraft exported from Belgium fell remarkably to X units, shrinking by -87.9% on the previous year's figure. Overall, exports, however, posted buoyant growth. The most prominent rate of growth was recorded in 2019 with an increase of 308% against the previous year. The exports peaked at X units in 2021, and then declined markedly in the following year.

In value terms, aircraft exports dropped sharply to $X in 2022. Over the period under review, exports continue to indicate a deep contraction. The most prominent rate of growth was recorded in 2021 when exports increased by 359% against the previous year. As a result, the exports attained the peak of $X, and then reduced remarkably in the following year.

Exports by Country

Spain (X units), the United Arab Emirates (X units) and France (X units) were the main destinations of aircraft exports from Belgium, together accounting for 92% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United Arab Emirates (with a CAGR of +118.4%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for aircraft exported from Belgium were Spain ($X), Turkey ($X) and France ($X), with a combined 65% share of total exports.

Spain, with a CAGR of +75.5%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average aircraft export price amounted to $X per unit, waning by -73.8% against the previous year. In general, the export price recorded a precipitous slump. The most prominent rate of growth was recorded in 2021 an increase of 145%. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Turkey ($X per unit), while the average price for exports to the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Switzerland (+26.3%), while the prices for the other major destinations experienced a decline.

Aircraft Imports

Imports into Belgium

In 2022, after two years of growth, there was significant decline in overseas purchases of airplanes and other aircraft, when their volume decreased by -98.4% to X units. Over the period under review, imports saw a deep reduction. The pace of growth appeared the most rapid in 2015 when imports increased by 889%. Over the period under review, imports hit record highs at X units in 2021, and then fell dramatically in the following year.

In value terms, aircraft imports dropped significantly to $X in 2022. Overall, imports continue to indicate a deep slump. The pace of growth was the most pronounced in 2021 with an increase of 1,974%. As a result, imports attained the peak of $X, and then dropped remarkably in the following year.

Imports by Country

The United States (X units), Italy (X units) and Switzerland (X units) were the main suppliers of aircraft imports to Belgium, together accounting for 53% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United States (with a CAGR of +14.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), the United States ($X) and Switzerland ($X) constituted the largest aircraft suppliers to Belgium, with a combined 84% share of total imports. Serbia, South Africa, Israel, the Netherlands, Norway, China, France, Canada and the UK lagged somewhat behind, together comprising a further 16%.

In terms of the main suppliers, Israel, with a CAGR of +247.3%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average aircraft import price amounted to $X per unit, declining by -56.5% against the previous year. Overall, the import price recorded a deep reduction. The pace of growth was the most pronounced in 2021 when the average import price increased by 1,096%. Over the period under review, average import prices attained the maximum at $X per unit in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per unit), while the price for the UK ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Israel (+247.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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